Osram: first-quarter results down on 'market weakness'

(CercleFinance.com) - German lighting group Osram said on Thursday that its revenue and profit fell in the past quarter, due to "increased headwind" on its main markets.


The company said its EBITDA dropped to 69 million euros in the first quarter to December, from 162 million euros in the same period a year ago.

Quarterly revenue fell to 828 million euros, down 11% from 939 million euros a year earlier.

In its statement, Osram said the automotive cycle has deteriorated significantly.

"But demand has also declined in the mobile devices and general lighting sectors," said CEO Olaf Berlien.

The executive said that the company is now taking measures to improve revenues and margins, focusing on photonics and optical technologies.

The share was down 1% at 37.8 euros in Frankfurt after these comments.

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